SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION
All Persons and Entities Who Purchased Inyx, Inc. Common Stock Between April 1, 2005 and July 2, 2007, Inclusive.
This Summary Notice is given pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York (the "Court"), dated February 9, 2012. The purpose of this Summary Notice is to inform you of the proposed settlement of the above-entitled class action (the "Action") against defendants Inyx, Inc., Jack Kachkar, Rima Goldshmidt, and Jay M. Green.
A Settlement Hearing will be held before the Hon. P. Kevin Castel, United States District Judge, at the Daniel Patrick Moynihan U.S. Courthouse, 500 Pearl Street New York, NY 10007, at 11:30 a.m. on May, 4, 2012 in order: (1) to determine whether the Settlement consisting of no less than $600,000.00 (US) and no more than $1,100,000 (US) in cash should be approved as fair, reasonable, and adequate to the Class and the proposed Judgment entered; (2) to determine whether the proposed Plan of Allocation for the proceeds of the settlement is fair and reasonable, and should be approved by the Court; (3) to determine whether any applications for attorneys' fees not to exceed 35% of the settlement Fund and reimbursement of litigation expenses not to exceed $110,000.00 (US) to Class Counsel should be approved; and (5) to rule upon such other matters as the Court may deem appropriate.
If you purchased the common stock of Inyx, Inc. between April 1, 2005 and July 2, 2007, inclusive, and are not otherwise excluded from the Class, you are a Class Member. Class Members will be bound by the final Judgment of the Court. If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim postmarked no later than June 8, 2012, establishing that you are entitled to recovery. If you are a Class Member and need a Proof of Claim, copies may be obtained by telephoning the Claims Administrator at (800) 231-1815 or by downloading the form on the Internet at www.gcginc.com.
If you do not wish to be included in the Class and you do not wish to participate in the proposed Settlement, you may request to be excluded in the manner set forth in the full Notice of Proposed Settlement of Class Action ("Notice"), no later than April 9, 2012. If you are a Class Member, and you do not request exclusion from the Class, you may make written objection(s) to the Settlement, the Plan of Allocation or Class Counsel's request for an award of attorneys' fees and reimbursement of expenses by following the procedures set forth in the Notice. If you make a written objection, you also may appear at the Settlement Hearing. You must file and serve your written objection, in the manner specifically set forth in the Notice, no later than April 9, 2012.
This is only a summary notice. The full Notice of Proposed Settlement of Class Action may be accessed at: www.gcginc.com.
Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in United States District Court for the District of Colorado on behalf of purchasers of Molycorp, Inc. common stock during the period between March 9, 2011 and November 10, 2011.
For more information regarding this class action suit, please contact Ryan & Maniskas, LLP toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com or visit: www.rmclasslaw.com/cases/mcp.
The complaint alleges that defendants’ false and misleading statements about the capability of the Company’s “Mountain Pass” mining operation and the Company’s earnings caused Molycorp common stock to trade at artificially inflated prices throughout the Class Period. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts during the Class Period: (a) Molycorp’s development and expansion of the Mountain Pass mine was not progressing on schedule and would not allow the Company to reach rare earth oxide production rates at the end of calendar 2012 and 2013; and (b) end users had been reducing demand for the Company’s products as prices for rare earth elements increased.
On November 10, 2011, the Company reported disappointing third quarter 2011 revenues and earnings results below analysts’ estimates and announced a reduction in Mountain Pass production guidance for the fourth quarter of 2011 due to expected equipment downtime relating to Mountain Pass engineering and expansion issues. The Company’s stock price fell, dropping from $38.70 per share on November 10, 2011 to $33.45 per share on November 11, 2011, or 13.6%, on heavy trading volume.
If you are a member of the class, you may, no later than April 3, 2012, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.
www.rmclasslaw.com.
Sydney Criminal Lawyers are a team of professional, experienced and highly respected specialist criminal and traffic defence lawyers. With two offices located in Sydney's Downing Centre Courts, our team of attorneys consistently achieve outstanding results in different criminal cases throughout the NSW area. We are the only criminal law firm to offer an "Accredited Specialist Guarantee" which means we will represent you on all important court days by the very best criminal or traffic lawyer in our firm. Additionally, we offer a great fixed fee-no hidden costs for our clients who are on a budget. Sydney Criminal Lawyers is the only accredited criminal law firm to offer these fixed fees for a wide range of criminal law services. Our results speak for themselves and we are the legal experts here to defend for your freedom to get you back on the road and on with your life as soon as possible.
At Sydney Criminal Lawyers, their attorneys have extensive experience in a wide range of criminal cases. With their comprehensive knowledge of drink driving, drug, and assault laws, their ability to defend their clients and win criminal cases have shown a proven track record. They care and understand how important a clean record is and will fight for their clients to secure favorable results. We have a winning attitude that will help ease your stresses.